ITR Filing Big Discount Offers: Income tax return discount for senior citizens, know detail

The last date for filing income tax returns is near. The last date is 31st July 2022. Because of this people are filing their ITR for 2021-22. From this time, individuals have also been asked to pay income tax. 

If ITR is filed after the last date, then penalty can also be imposed. But if the return is filed at the right time, then some people can also get a separate exemption of Rs 2.50 lakh. 

Give tax information to senior citizens

That if the annual income of people below 60 years of age is more than Rs 2.50 lakh, then they fall in the tax paying category or rather in the tax bracket. Generally, 5 percent tax is deducted on annual income of 2.5 lakh to 5 lakh rupees. Senior citizens who are above 60 years of age but less than 80 years of age also have to pay tax. 

If their annual income is 3 lakh rupees, then such people will get an additional exemption of 50 thousand rupees. Some people who are very senior citizens have been kept in the category of more than 80 years. Very senior citizens come in the tax bracket only if they have an annual income of more than 5 lakhs. Due to this, they already get an extra Rs 2.5 lakh exemption as compared to normal tax payers. 

How to file income tax return

• visit the Income Tax Department official website.
• Login here with your PAN card. If you are visiting the site for the first time then you have to register.
• After new user new to e filing click on usertype.
• After that fill the details of PAN card.
• After filling the form, verify it.
• After verification you will be registered.
• Now you can file your return by logging in.
• Select the correct form for filing Income Tax Return.
• After this, give all your investment details in the form.
• Attach all documents.
• If the income is more than 50 lakhs then column AL has to be filled as well. Also fill in the assets and liabilities information.
• After filling the form submit it. Your return, income tax and interest will be automatically calculated.
• After submitting the return, OTP will be sent to the registered mobile number for verification.
• Apart from OTP, you can also take the help of Digital Signature Certificate. 

Note- Selecting  the correct form is essential for filing Income Tax Return. In the case of individuals i.e. income from salary, pension income, income from a house or income from other sources, Form ITR-1 has to be filed. At the same time, ITR-2 has to be selected in Capital Gains. Select ITR-2A if you have more than one house. ITR-3, ITR-4, ITR-4S forms are for businessmen and professionals.